By Joy Taylor From Kiplinger’s Personal Finance Question: Can I deduct charitable contributions that I made in 2022 if I don’t itemize? Answer: No. The 2020 and 2021 easing for charitable gifts of cash has expired. Beginning with 2022 returns filed next year, nonitemizers can no longer write off on page 1 of the Form…
Report: California Is One of the Least Charitable States Despite Being One of Wealthiest
December 26, 2022
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It turns out that California is one of the least charitable states in the union. When it comes to charitability, California ranks near the bottom among the 50 states, according to the World Giving Index created by WalletHub. California ranks 42nd among the 50 states in this year‘s rankings. It follows the trend of some…
Make the Most of New Rules for Charitable Giving
Most people no longer get a tax deduction when they donate to charity. That shouldn’t keep you from making donations, but you may want to change your approach. Typically, only taxpayers who itemize deductions can write off charitable contributions. The vast majority of taxpayers instead take the standard deduction, which was nearly doubled by the…
Gates Foundation Boosts GivingTuesday With $10 Million Donation
NEW YORK—The Bill & Melinda Gates Foundation donated $10 million to the organization that grew out of the hashtag #GivingTuesday in part to fund a database of charitable giving and other acts of generosity. GivingTuesday, the organization, has helped people realize there is a lot they can give, said foundation co-founder Melinda French Gates in…
Charitable Contributions for 2022: How to Save on Taxes
In 2020 and 2021, you could deduct up to $300 for cash donations to charity without itemizing. This came under the standard deduction. It didn’t apply to those who itemized, but at least you could take a deduction without pulling out Schedule A. But that charitable standard deduction wasn’t extended past 2021. So that leaves…
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